Key Points
- Director Eric Richard Remer sold 26,530 EverCommerce shares at an average price of $9.78, generating $259,463.40. He retained 5.43 million shares, and the sale reduced his position by 0.49%.
- Remer has conducted a series of stock sales since late July, totaling more than 200,000 shares, while EverCommerce shares opened at $9.68 and remained below their 50-day and 200-day moving averages.
- EverCommerce’s latest quarterly EPS of $0.05 missed the $0.15 consensus estimate, though revenue rose 2.7% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $11.00.
EverCommerce Inc. (NASDAQ:EVCM - Get Free Report) CFO Ryan Siurek sold 3,188 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $10.16, for a total value of $32,390.08. Following the completion of the transaction, the chief financial officer owned 344,121 shares of the company's stock, valued at $3,496,269.36. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
EverCommerce Stock Down 4.3%
Shares of EVCM stock opened at $9.68 on Friday. The firm's 50-day moving average is $10.43 and its 200-day moving average is $10.76. EverCommerce Inc. has a 52-week low of $7.66 and a 52-week high of $14.41. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 53.78, a PEG ratio of 0.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.
EverCommerce (NASDAQ:EVCM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.10). EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. The company had revenue of $152.02 million during the quarter, compared to analyst estimates of $152.29 million. During the same quarter last year, the company posted $0.04 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that EverCommerce Inc. will post 0.52 EPS for the current year.
Institutional Investors Weigh In On EverCommerce
A number of institutional investors have recently modified their holdings of EVCM. Bank of America Corp DE acquired a new stake in EverCommerce during the second quarter worth approximately $125,000. Prudential Financial Inc. raised its position in shares of EverCommerce by 9.6% during the second quarter. Prudential Financial Inc. now owns 13,546 shares of the company's stock worth $142,000 after purchasing an additional 1,190 shares during the period. Deutsche Bank AG bought a new position in shares of EverCommerce in the 2nd quarter worth $144,000. O Shaughnessy Asset Management LLC bought a new position in shares of EverCommerce in the 4th quarter worth $177,000. Finally, BNP Paribas Financial Markets grew its position in EverCommerce by 863.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company's stock valued at $171,000 after purchasing an additional 13,734 shares during the period. 97.91% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on EVCM. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $14.00 price target on shares of EverCommerce in a report on Friday, May 8th. Royal Bank Of Canada lowered their price target on shares of EverCommerce from $11.00 to $10.00 and set a "sector perform" rating for the company in a report on Thursday, August 6th. Wall Street Zen cut EverCommerce from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 14th. Canaccord Genuity Group boosted their price objective on EverCommerce from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Finally, Weiss Ratings cut EverCommerce from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, EverCommerce currently has an average rating of "Hold" and a consensus target price of $11.00.
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About EverCommerce
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EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.
The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.
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